Colombia: Cali Council approves loan for $ 650,000 million for the Mayor's Office

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In the midst of a controversy, with 19 votes in favor and two against, the loan requested by Mayor Jorge Iván Ospina for $ 650,000 million was approved, in a second debate in the Cali Council.

The loan was requested by the Mayor's Office of the city to face the effects that the Covid-19 pandemic has left on the economy and to promote projects that are within the Development Plan.

Mayor Ospina said, we have lost more than 300,000 jobs and we must orient resources with transparency in projects that are intensive in labor aimed at youth and women, where unemployment is concentrated. With the delivery of several properties that belonged to drug trafficking, they are going to advance a housing plan and orange development areas. We are going to execute them in the 3 years of government, in projects that mobilize the economy, such as public space and road infrastructure. The loan will be paid in 10 to 15 years.

The controversy over this initiative was generated because some councilors asked that the projects where the money would be invested be specified, to which the president replied that they were consigned in his development plan.

The Liberal party councilor, Diana Rojas, said that she voted against because she assures that there is no clarity on the credit and the use of money, because it would be like giving a blank check to the Mayor of Cali.

The lobbyist said, it is inadmissible to authorize a debt to any term without being clear about them , we do not know the interest rates and the payment to capital, or how the city is going to get into debt.

Meanwhile, a group of Caleños, through a digital platform, opened a petition that currently has 655 signatures, so that it is known in what the approved monies will be invested.